TOKYO: Japan’s Nikkei share average fell for a third session on Thursday as investors sold stocks to book profits from a recent rally, with technology stocks tracking US peers lower.
The Nikkei slipped 0.65% to close at 42,610.17. The index has lost 2.5% over the past three sessions following its record high on Tuesday.
The broader Topix fell 0.52% at 3,082.95.
“Investors kept selling stocks to book profits, but some investors who were not able to buy shares during the rally picked up stocks on the dip... (which) capped the Nikkei’s losses,” Shinkin Asset Management’s senior fund manager Naoki Fujiwara said.
Chip-making equipment maker Tokyo Electron fell 2.41% and technology investor SoftBank Group lost 2.01%.
On Wall Street, the Nasdaq and S&P 500 fell overnight as investors sold tech stocks and moved into less highly valued sectors.
Drugmaker Daiichi Sankyo lost 7.18% to become the worst performer among the 225 stocks on the Nikkei.
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